Chevron Agrees To Pay $5M To Settle NM Fraud Claims

Law360, New York (September 11, 2013, 4:49 PM EDT) -- Chevron Corp. will pay New Mexico $5.2 million to settle allegations that it received millions in taxpayer funds to clean up underground storage tanks at gasoline stations around the state after falsely claiming it lacked insurance that would pay for the effort, the state attorney general said Wednesday.

The settlement stems from a case originally filed in 2009 under the New Mexico Fraud Against Taxpayers Act, which allows private parties to initiate lawsuits to pursue fraud perpetrated against the state. The state decided to investigate the...